Aktiv kapital help needed

millymollie

Hi there
I had a loan with Egg which due to relationship breakdown I defaulted on, for sum of 12k.
They sold debt on to AK and I was making small payments of around 30 pound monthly.

Got statement off them, they have added 4k interest to it and have authorised Empingham to deal with it.

Any ideas what I can expect.

I read somewhere to ask for copies of the original signed agreement, if they can'tprovide it then its unenforceable?
Is this correct??

Thanks it advance
Mills

jmhgibson123

yep its the best thing to do..although as you have already started paying them im not sure if that works but try it anyway they still can chase you if they cant produce agreements but they cant go to court so you can use their letters as toilet paper if you want....i am still waiting for ak to find my original agreement and have heard nothing off them for 3 months now :-)

millymollie

Thanks for that
When I get the letter from empingham I will ask for the agreement, its worth a try

Just worried if they go straight for court action as I can't really afford more than 50 quid a month at the most

DCFC79

millymollie wrote: »

Thanks for that
When I get the letter from empingham I will ask for the agreement, its worth a try

Just worried if they go straight for court action as I can't really afford more than 50 quid a month at the most

If thats all you could afford then so be it,

millymollie

What I am worried about given the amount I owe, with the interest added, my repayments of say 50 a month don,t even cover the interest

Is it likely that they will go for court action, if anyone can advise, I am a nervous wreck worrying

Thank you

sourcrates

Hi,
How old is the debt ? if it is after April 2007 then you cant rely on unenforceability alone as a defence, if the debt is from before April 2007 then things are different, they must supply a true copy of original agreement containing your signature and all prescribed terms applicable, on the same document, if they cant produce that, then you may have a case for unenforceability, but as I said above after April 2007 this loophole was closed and the rules relaxed.
As to court action, its a possibility given the size of debt, however a court would never expect you to pay more than you can afford, so I wouldn't worry about that, just answer any court papers promptly, remember the rules are there to protect you as well as your creditor.

jmhgibson123

go with the prove it first...pre 2007 debt, but dont stress if it turns out you have to pay the general rule is so long as you can fill out a income and expenditure form and let them see what you have left each month they will accept that as a court would not make you pay more than you can afford so they know a court battle would be pointless if your willing to pay something